There are a lot of ways small businesses can stay competitive, and it can be a lot simpler than you think. For some, it just comes down to demand forecasting. In fact, Amazon earns 24% of its North America retail revenue because local stores can’t forecast accurately. And retail technology has made accurate demand forecasting…
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2020 Payroll Tax Holiday & What It Means for Small Businesses
President Trump recently passed an executive order freezing the Social Security tax for employees, but what does this really mean for small business employers? There are still some unanswered questions about how this will work, but the intention is to increase employee paychecks by not withholding the 6.2% Social Security tax that is currently required….
What Are Press Release Analytics?
Press release analytics tell you how your press release performed in terms of the metrics you track. Example press release metrics include reads, inbound traffic, conversions, backlinks earned, placements, and social media mentions. Press release analytics can help you justify your investment, understand how to further nurture sales, and inform how you to successfully craft…
Visual Voicemail: What It Is & How to Use It
Visual voicemail is the capability to read a transcript of your voice messages, which is handy for anybody who wants to save time by scanning missed messages for critical information instead of listening to the full-length recording. This ability can be helpful for companies and businesses, but also for everyday use as well. How Visual…
Business Networking: What Is It & Tips for Success
Business networking is the act of forming relationships to improve your company—from finding clients to discovering new suppliers to meeting government officials. The key word is “relationships.” Think of networking as a passive way to form relationships slowly, not as an aggressive way to hunt for new customers. Why Should You Do Local Business Networking?…
Retail Inventory Management: Definition & Best Practices
Retail inventory management is stocking products that buyers want, using pricing and promotions to sell profitably, and maintaining inventory at levels that meet demand without over-purchasing. An overall inventory management plan guides how this all gets done, from intelligent purchasing and pricing to procedures covering receiving, inventory counts, and location tracking. In today’s data-driven economy,…
5 Workers’ Compensation Claims Management Best Practices for Employers
Most business owners understand they need workers’ compensation insurance in case an employee gets injured on the job. However, few know the important role they play in workers’ compensation claims management, so we’ve compiled a list of best practices employers can use to make sure workers are taken care of and claims are handled promptly….
POP vs POS: What’s the Difference?
POP and POS are two important transactional elements of every retail store. While the point-of-purchase is the point at which a shopper decides to buy an item, the point-of-sale is where they actually pay for that item. POP displays promote products and build awareness, while the POS system serves a virtual command center that can…
CRM Analytics: Definition & Proven Benefits
Customer relationship management (CRM) analytics offer insights into areas like sales performance and customer service to show how a business is performing. Most CRMs offer automated analytics tools that helpfully aggregate data into meaningful reports instead of trying to sort through spreadsheets of cumulative data. Benefits of CRM Analytics Tracking The customer interaction data produced…
State Tax ID: What It Is & How To Get One
A state tax ID is given to a business by the state to use when filing state taxes. Generally, states require these IDs for any business that is registered as a legal entity (LLC or corporation) or has employees. To get a state tax ID number, visit your official state tax website or use an…
What Is an Additional Insured?
Additional insured endorsements are amendments to insurance policies that extend limited coverage to entities not already named on the policy. Typically, the additional insured is a person or organization that could benefit from the protections the policy offers like companies that hire contractors. As an additional insured, the hiring company is protected if the contractor…
What Is a Press Release & Examples
A press release is an approximately 500-word, fact-based written description of a company’s newsworthy announcement. It is issued to earn media interest in publishing the story before targeted audiences. It should offer an angle that’s of interest to target audiences, resources for journalists to tell a complete story, and a call to action to help…